Armenian Power gang associate gets 13-year term for conspiracy that bilked elderly of $3.5M

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LOS ANGELES — An associate of the Armenian Power gang has been sentenced to more than 13 years in prison for his role in a conspiracy that bilked elderly bank customers of more than $3.5 million.

Federal prosecutors say Andranik Aloyan (an-DRAN'-nick ah-LOY-ahn) of Los Angeles was ordered Monday to repay the stolen money.

Assistant U.S. Attorney Martin (mar-TEEN') Estrada says Aloyan was a fraud specialist with the gang formed in Hollywood in the 1980s.

He was convicted in February of a racketeering conspiracy, identification theft, attempted bank fraud and possession of a firearm by a convicted felon.

Estrada says Aloyan used stolen information to siphon funds from 80 mostly elderly bank customers who had a combined $25 million in the bank.

Aloyan, 41, was among 90 people charged in federal court with related crimes.

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